Stock Market Update | August 5 2024
Just a quick update – the data in the charts and table below was up to date as of Friday’s close… today the Nikkei is down a further 13% today when I last checked. This is a BIG deal, I am watching with interest what happens next!
In particular it will be important to see how the rest of the global markets respond… correlations could be very high here for a while.
This could very quickly decay depending on what sort of government response there is, so check your positions, make sure any trades that should be closed have been, check your leverage levels and ensure you are not going to get margin called.
Remember above all panic is what gets people in trouble. We need to act in line with our trading plan and trading systems.
You don’t have to look far in the markets to find the RED over the last week – it is everywhere! Well everywhere except in the US utilities sector (up 4.3%) as people rush to lower risk areas of the markets. Have a look at the table below… then pause and take notice of your emotions and how you are feeling right now… then keep reading below the table because I have something important to show you.
